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20120901
20120930
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. >>> the drenching that parts of the united states got last week, including tornadoes out in queens, not really helping parched farmland. there are no farms in queens, are there? this afternoon we're going to get exclusive details on the economic impact from our senior economics reporter steve leisman. he's here live. >> in about three minutes we're going to get an e-mail from the guy that runs the farm in queens. it is a big impact from what's a small sector of the economy and it could even have an impact on the presidential election. in a detailed study of the summer's drought which scored soybeans, corn and other crops across the nation, macro economic advisors out of st. louis estimate it could shave as much as a half point off gross domestic product this year. that's a big hit to a $13 trillion economy from a total farm sector that accounts for just -- wait for it now -- 1% of the nation's output. ben herzon is the economist who did the study. pe explai he explains the drought's outside impact. >> even though it only accounts for 1% of the economy, big changes in farm output can show up in
of factory jobs are like that in the united states. that's the nature of a factory. >> one final question, if i might. how long does your intelligence indicate that this plant may be offline? >> that's the critical question. they were saying it could be up as soon as tomorrow. i actually think we've not heard the end of this news. i think we'll see more bad news regarding nurse which could theoretically keep this factory closed for up to a week or maybe more if we end up seeing deaths. >> gentlemen, thank you very much. appreciate you being with us. >> ty, as you know, another big apple story today, the company selling more of its 5 million iphone 5s in the first three days after that product was launched. a note from jpmorgan says, by the way, that that does not include pre-orders, and then there's yahoo!. the shares of yahoo! today are on the upside by more than 5% in a month as the new ceo, marisa mayer, gets set to address the troops tomorrow. jon fortt is helping us get ahead of this particular story. >> tomorrow's meeting is only for employees, not inviting the media, not asking dir
their friends in southern europe and indeed the economy here in the united states. michelle caruso-cabrera will talk about some of the bad pigs in a minute, but first senior economics reporter steve liesman with the story of some vindicated doves. >> because the new game is called "bad piggies." that's where we're coming from. >> and we're only doing this because the producer jason gawertz made us do this. he said could we think of an app that would apply with today's data and i did. it's called vindicated doves. at least initially here, why is that? because essentially the economic data came in weak. let me show you what the economic data showed. the numbers come in you're looking for 5.6% positive -- or negative. you get minus 13.2 off a prior 3.27%. i think the dove says i don't care i had this one right. gdp took .4 off the prior print right there. midwest manufacturing down negative. p and pending home sales much changed from the prior month from positive to negative. take a look at some of the comments here. vindicated doves. anyone facing doubt about the need forred 23ed's r
focus on education here in the united states, we are also learning this hour that americans owe more on their student loans than they do on their credit cards. and the default rate on those student loans is more than four times the default rate on mortgages. so the question now is it another bubble that is about to burst? senior correspondent scott cone is reporting from washington today on some very startling statistics, scotty? >> reporter: some new statistics, simon, just in. these new figures come from fyke cok -- fico, they analyzed a large sample of credit reports, millions of them nationwide. and here is what they found. since 2005, the percentage of u.s. consumers with multiple open student loans on their credit report has nearly doubled, now almost 12% of us are making payments on at least two student loans. the average amount of that debt, up more than 50% to more than $26,000 on average, a much higher pace of growth than the growth of credit like credit cards and mortgages, other types of debt. and the percentage of consumers with six figures in college debt has more than
Search Results 0 to 3 of about 4